What is FinOps and why is it important in cloud management

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Before I start implementing cost governance in our cloud environment, I wanted to understand what FinOps is and how it helps in aligning financial and operational goals.
Nov 19 in Cloud Computing by Priyanka
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1 answer to this question.

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FinOps is an acronym for "Financial Operations, " which refers to the inclusion of financial management with best practices around operations to facilitate teams in making informed cloud spending decisions.

Here's why FinOps is significant in cloud management:

  • Cost Visibility: It gives you a clear picture of where and how your cloud budget is spent.

  • Collaboration: This helps teams across IT, finance, and business units work in alignment to bring cloud spending in line with business goals.

  • Optimization: It pays only for what is consumed through waste identification and elimination.

  • Scalability: Enables businesses to scale up or down while keeping costs in check.

FinOps equips organizations to leverage cloud spending to achieve maximum value and tangible financial responsibility.

Learn more about AWS pricing and GCP pricing here.

answered Nov 20 by Tanishka

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